Binance has announced the launch of Binance Wealth, a cryptocurrency exchange platform tailored specifically for wealth managers. This new solution is intended to assist wealth managers in overseeing their clients' crypto investments securely and efficiently.
According to a press release by Binance, Binance Wealth aims to offer enhanced security and an intuitive interface, enabling wealth managers to manage their clients' cryptocurrency exposure on the largest exchange by trading volume. The initiative addresses the increasing demand for secure methods to integrate digital assets into wealth management services. With this platform, clients can collaborate with their wealth managers to set up accounts and manage investments while maintaining control over investment decisions.
Catherine Chen, Head of Binance VIP & Institutional, said, "The recent surge in institutional interest in digital assets is undeniable. As more investors recognize the potential of this burgeoning asset class, we’ve been hearing from wealth managers in different markets around the world asking for a crypto solution for their clients." Chen added that "Binance Wealth significantly lowers entry barriers by providing them with direct access to the deepest crypto liquidity within a secure, regulatory-compliant platform that both managers and their clients can trust." She expressed excitement about "unlocking more institutional and private wealth capital by introducing an industry-first solution that sets a new standard for crypto wealth management and for the industry."
Binance operates as a major global blockchain platform and features the largest digital asset exchange by trading volume. The company offers various financial products and services and is recognized for its comprehensive ecosystem, which includes educational resources, research initiatives, charitable activities, and an NFT marketplace. Supporting users around the clock in 40 languages, Binance prioritizes security and regulatory compliance to protect its users and contribute to the growth of the blockchain industry. In 2022, according to Binance, the platform experienced significant activity with an average daily trading volume of $65 billion and 300 billion spot transactions.